Why Energy Efficiency?
Energy efficiency has been recognized as the most cost-effective short- to medium-term option to meet the energy requirements of increased economic growth while improving productivity and contributing to sustainability and mitigation of global climate change. Improving energy efficiency can increase business profitability and competitiveness and is therefore vital for industry. It is also particularly important for developing countries because sustaining high economic growth requires increased energy supplies.
Energy efficiency options:
- Increase productivity, profitability and competitiveness
- Reduce energy consumption and costs
- Improve energy security by reducing the reliance on imported energy
- Reduce the need for expensive electricity generation capacity and other energy supply investments, thereby reducing future energy supply costs
- Reduce local environmental impacts
- Reduce the greenhouse gas (GHG) emissions and contribute to global climate change mitigation
Scaling Up Implementation
The International Energy Agency estimates that $10.5 trillion of investment is needed to meet the "450 ppm scenario" for limiting the global surface temperature rise to 2 degrees C. Of this, about 65% is expected to be contributed by energy efficiency. However, while the potential for efficiency improvement is very high, the actual market implementation has been far short of potential. Therefore, new regulations, policies, financing options, implementation mechanisms, and incentives are needed to scale up the deployment of energy efficiency solutions.
SRC Global Services
- Identification of energy efficiency technologies and equipment
- Assessment of potential for energy efficiency
- Supporting energy efficiency project implementation
- Development of energy efficiency legislation and regulations, strategies, and action plans
- Recommendation of institutional and organizational structures for energy efficiency agencies
- Identification of major barriers to energy efficiency and development of approaches to overcome these
- Development of innovative financing mechanisms to scale up energy efficiency deployment
- Assistance to project developers in preparing bankable project proposals
- Assistance to banks and financial institutions to establish an energy efficiency lending business
- Training and capacity building of energy users, energy service providers, and banks/financial institutions with respect to energy efficiency technologies and business models